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  4. February 2022 Trade Gap is $89.2 Billion

February 2022 Trade Gap is $89.2 Billion

April 5, 2022

The U.S. monthly international trade deficit decreased in February 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased less than $0.1 billion from January (revised) to $89.2 billion in February, as exports increased slightly more than imports. The previously published January deficit was $89.7 billion. The goods deficit decreased $1.1 billion in February to $107.5 billion. The services surplus decreased $1.1 billion in February to $18.3 billion.

February 2022 trade deficit in goods and services historical time series

Exports
Exports of goods and services increased $4.1 billion, or 1.8 percent, in February to $228.6 billion. Exports of goods increased $2.8 billion and exports of services increased $1.3 billion.

  • The increase in exports of goods reflected increases in industrial supplies and materials ($1.7 billion) and in consumer goods ($1.3 billion). A decrease in capital goods ($0.7 billion) partly offset the increases.
  • The increase in exports of services reflected an increase in travel($1.2 billion).

Imports
Imports of goods and services increased $4.1 billion, or 1.3 percent, in February to $317.8 billion. Imports of goods increased $1.7 billion and imports of services increased $2.4 billion.

  • The increase in imports of goods reflected increases in industrial supplies and materials ($3.4 billion) and in capital goods ($0.9 billion). A decrease in automotive vehicles, parts, and engines ($3.2 billion) partly offset the increases.
  • The increase in imports of services reflected increases in charges for the use of intellectual property ($1.2 billion), in transport ($0.6 billion), and in travel ($0.5 billion). 

The global COVID-19 pandemic and the economic recovery continued to impact international trade. The full economic effects of the pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified. For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, February 2022.